A bullish trend is applicable and the ideal entry range is around 1430. Increase exposure for a break above 1490. Target is set at 1530. Stop-loss is set at 1410. Fading downside price momentum supports the bullish trend. Time exit +/- 20 February 2023.
Netcare a range consolidation but we might see a spike to the upside pretty soon
The hospital sector has found the going tough over the last 7 years. Even covid did not bring much in terms of good fortunate as in other sectors. Fundamentals are always critical but technical and cyclical analysis paints a bullish picture for the stock. The decline from the 2015 all time high has unfolded in a textbook (A)(B)(C) zigzag pattern with both the (A)...
Netcare showing a bull market as it broke above the medium term downtrend since August - September... It's now testing the support (which was the resistance) and is forming a potential Cup and Handle which is setting its next target to R15.16.
Published in the last few minutes to our client platform. "Speculative trading opportunity with the price trading at the bottom it's year-to-date range while also testing the lower boundary of it's 40-day Bollinger Band. The 7 and 14-day RSI is at 10 and 26 respectively (extremely oversold in the ultra short term). Preferred at current levels or slightly lower....
Netcare building a good base on the weekly; looks like a Cup & handle chart pattern. 17ish is the area to break to confirm it!
A bullish price action is applicable above 1475. Crossing below this level will negate the trade idea. Upward price momentum supports the bullish trend direction. RSI leaves enough room for further upside price potential. Breaking above its 200-day will act as further upside potential.
Time Frame: Ultra short Term - looking for a reversion to the mean. - Has retraced more than 0.618% of it's recent upward move, from upper boundary of Bollinger Band to below the mean. - 5-day performance gap has widened, with NTC underperforming LHC (-6.98% vs 0.13%). - The 5-day correlation is negative vs a 0.69% correlation over 21 days and a 70% correlation...
netcare seems as it it wants break out of the triangle formation a move higher is possble
Netcare broke what seemed like an inverted head and shoulders neckline and retested that neckline. Possible target after 1700 would be 1970.
NTC Monthly Chart From an equity portfolio perspective, South African hospital stocks have been out of favour for an extended period however short and medium term opportunities have arisen in both Q1 and Q2, with both Life Healthcare and related-sector stock, Aspen Pharmacare as flagged as buy/longs during the period. Reviewing the monthly chart of Netcare Ltd,...
Ascending triangle in the making. A close above R15.50 triggers the long idea with full target of R17.50 and stop loss a close below R14.25
Rounded bottom on the daily chart, whose break can target 19.
Netcare seems to be building a potential head and shoulders formation. Watch the 1560 neckline for resistance. A break of that neckline could open 1700 and 1970 targets. Wait for a neckline break. Stop loss around the 1400 level.
JSENTC - Breaking higher on an intraday basis Looking for 1750